Local gold buyer Rick Davis sued over stolen jewelry

February 19th, 2013by Todd South in Local Regional News

Rick Davis

Photo by
Contributed Photo/Times Free Press.

A Lookout Mountain, Ga., woman has filed a lawsuit against well-known gold buyer Rick Davis, claiming he either has or illegally has passed along a $20,000 platinum and diamond ring that was stolen when her home was burglarized.

In a lawsuit filed in Hamilton County Circuit Court, Louisa C. Hurst alleges that two jewelry boxes containing multiple pieces of heirloom jewelry were stolen from her home Jan. 24.

The lawsuit states that Jamie Graham told Walker County, Ga., sheriff's Detective Jeff Herpst that she and her husband had burglarized homes on Lookout Mountain for three years. Graham said she or her husband took the items from Hurst's home and sold them to Davis at his Brainerd Road store.

Davis said the allegations in the lawsuit are "blown out of proportion" and on "the word of a known thief." He referred any further comment to his attorney's response, which called the lawsuit claims "meritless."

In her complaint, Hurst claims Davis did not keep accurate records of jewelry purchased at the store, in violation of Tennessee law. She also alleges he has not kept items separate and unsold for the required 20 days.

"Mr. Davis has informed authorities that he either has lawful ownership and refuses to return the jewelry or that he is no longer in possession of such jewelry in violation of statutory requirements to maintain the inventory for twenty (20) days," according to court documents.

Graham told police that Davis told her the platinum and diamond ring she stole from the Hurst house was a fake, and he gave her $50 for it.

Hurst claims the ring is worth more than $20,000, the lawsuit states.

She also is suing Davis for fraud and other violations covered by the Tennessee Consumer Protection Act.

Chattanooga police Officer Rebecca Shelton cited Davis a $250 fine for failure to maintain records and items, and according to the complaint Davis paid the fine.

Hurst is seeking an injunction that would prevent Davis from selling the jewelry he bought from Graham.